The problem with pet projects

Executives don't always know when they're getting too close to a project--and the consequences are far-reaching. This article examines what happens when executives make projects too personal and identifies warning signs. It reports the results of the PMI 2012 Pulse of the Profession report, which found that organizations with active project or program sponsors on at least 80 percent of their projects have a success rate 11 percentage points higher than the overall survey average. It then identifies several characteristics of pet projects. The article lists four warning signs to avoid falling into the pet project trap. It also cites one gray area: when an underperforming project manager requires increased executive involvement. It concludes by looking at the consequences for failing to eliminate pet projects. Accompanying the article is a sidebar offering advice when addressing executives who have lost sight of the big picture.
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